Business
Acquisition of SheerLuxe
Future plc has acquired SheerLuxe Ltd and BLUSH TALENT MGMT Ltd for an initial cash consideration of £39.9m, funded by existing facilities, with potential for an earn-out. This bolt-on acquisition is expected to diversify Future's audience and content monetisation, leveraging SheerLuxe's 6 million audience across social, newsletters, websites, and podcasts, particularly its Gen Z demographic. SheerLuxe generated £12.6m in revenue and £5.1m in EBITDA in the twelve months to September 2025, representing a 40% EBITDA margin. The acquisition, priced at an EV/LTM EBITDA multiple of 7.8x, is projected to deliver strong incremental capabilities and value creation, with total consideration capped at £80m contingent on future performance. Future expects to maintain its leverage policy and de-lever quickly through strong free cash flow generation. Disclaimer*
About this update from Future Plc
[{"type":"text","content":"\n\n22 January 2026\nFuture plc\nAcquisition of SheerLuxe\n \n \nFuture plc (LSE: FUTR; \"Future\" or \"the Group\"), the global platform for specialist media, is pleased to announce the acquisitions of 100% of SheerLuxe Ltd and BLUSH Talent MGMT Ltd (together \"SheerLuxe\" or the \"Acquisition\"), a UK-based digital publishing group that combines the authority of a trusted media brand with the authenticity and engagement of the creator economy.\n \nThe Acquisition is for an initial cash consideration of £39.9m funded from existing facilities, with an earn-out conditional on future performance.\n \nAcquisition highlights\n- Bolt-on acquisition that complements our existing portfolio and is fully aligned with stated strategy, to diversify our audience and content monetisation\n- A highly-recognised Google-Zero brand that draws an audience of 6m across social, newsletters, websites and podcasts, skewed to Gen Z\n- Drives synergies through platform effect, delivering strong incremental capabilities across social, newsletters and podcasts to benefit our existing portfolio of leading brands\n- Delivers attractive value creation with high direct revenue growth, EBITDA margin at 40% and returns higher than WACC\n \nAbout SheerLuxe\nOriginally founded by Georgie Coleridge Cole in 2007 as a directory of online retailers, SheerLuxe has evolved into a leading UK digital publisher in Women's fashion and lifestyle.\n \nSheerLuxe comprises a portfolio of digital brands that reaches an audience of over 6m, including 2.3m monthly page views, 2.4m social followers, 0.9m email subscribers and 0.4m YouTube and podcast subscribers.\n \nIn the 12 months to September 2025, SheerLuxe generated revenues of £12.6m and delivered EBITDA of £5.1m, representing a margin of approximately 40%. The business has been growing through innovation, having achieved +32% organic revenue CAGR since FY 2023 (year to March 2023) while remaining fully self-funded given its strong cash generative profile.\n \nStrategic rationale\nSheerLuxe represents a unique investment opportunity that is fully aligned with our stated strategic objectives. It is highly complementary to our leading portfolio of brands and offers multiple avenues to drive the platform effect.\n \nSheerL...